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Individually Compiled Just for You Based on Your Budget & Needs
Individually Compiled Just for You Based on Your Budget & Needs
BUYING SPANISH PROPERTY
Whether you're buying a property in Spain as a holiday home, an investment or permanent move the process starts with choosing the area and type of property which best suits you.
If you are buying for an investment then you will want a property that offers a good rental yield in an area of strong demand. If you are considering emigrating or are looking for a holiday home then you may already be considering particular areas and simply wish to find a good value property. Whatever your needs applying for a Free Personalised Property Pack will show you exactly what is available in your area & budget
When you buy resale property in Spain the transaction can usually be completed in around 8 weeks and the properties generally come fully furnished. Resale purchases are ready fast and with the minimal effort.
If however time is less of an issue New Build (often known as 'off plan') properties have varying completion times from just a few months to 18 months or more. Resale Purchase Procedure
A resale property in Spain is normally secured by signing a reservation contract and paying a holding deposit usually between €3,000 & €6,000.
As in the UK you will need to appoint a Solicitor (Qualified Spanish Solicitors are known as Abogados) to act on your behalf regarding searches, confirmation of building licences etc.
Completion in Spain is generally in around 8 weeks and must be witnessed by a qualified Notary, at this point the balance will be paid to the vendor in full.
Off Plan Purchase Procedure
As with a resale, when you buy a new property in Spain purchased off-plan, it can also be secured by signing a reservation contract and paying a deposit of between €3,000 & €6,000, usually after viewing a completed show home.
As in the UK you will need to appoint a Solicitor to act on your behalf.
Subject to your Solicitors approval, a final contract will be signed, this is usually 30 days after signing the reservation contract.
At this time a first deposit will become due, the amount will naturally depend on the property & builder. Payments are then made in 2, 3 or more instalments with the balance of the sale price normally be paid upon completion of the property. Spanish Property Costs
It's important that you know the full costs of buying a property in Spain to insure you avoid any nasty surprises and can complete the sale without any problems. In general you will need to set aside 10% - 12% of the purchase price to cover the various fees involved, below you can see a breakdown of the major costs.
If you are buying for an investment then you will want a property that offers a good rental yield in an area of strong demand. If you are considering emigrating or are looking for a holiday home then you may already be considering particular areas and simply wish to find a good value property. Whatever your needs applying for a Free Personalised Property Pack will show you exactly what is available in your area & budget
When you buy resale property in Spain the transaction can usually be completed in around 8 weeks and the properties generally come fully furnished. Resale purchases are ready fast and with the minimal effort.
If however time is less of an issue New Build (often known as 'off plan') properties have varying completion times from just a few months to 18 months or more. Resale Purchase Procedure
A resale property in Spain is normally secured by signing a reservation contract and paying a holding deposit usually between €3,000 & €6,000.
As in the UK you will need to appoint a Solicitor (Qualified Spanish Solicitors are known as Abogados) to act on your behalf regarding searches, confirmation of building licences etc.
Completion in Spain is generally in around 8 weeks and must be witnessed by a qualified Notary, at this point the balance will be paid to the vendor in full.
Off Plan Purchase ProcedureAs with a resale, when you buy a new property in Spain purchased off-plan, it can also be secured by signing a reservation contract and paying a deposit of between €3,000 & €6,000, usually after viewing a completed show home.
As in the UK you will need to appoint a Solicitor to act on your behalf.
Subject to your Solicitors approval, a final contract will be signed, this is usually 30 days after signing the reservation contract.
At this time a first deposit will become due, the amount will naturally depend on the property & builder. Payments are then made in 2, 3 or more instalments with the balance of the sale price normally be paid upon completion of the property. Spanish Property Costs
It's important that you know the full costs of buying a property in Spain to insure you avoid any nasty surprises and can complete the sale without any problems. In general you will need to set aside 10% - 12% of the purchase price to cover the various fees involved, below you can see a breakdown of the major costs.